Our Mission to Unlock Infinite Possibilities with Bitcoin and DeFi

Bitcoin represents over 50% of the cryptocurrency market, but its integration with decentralized finance (DeFi) has been limited to date. Lombard aims to unlock Bitcoin's potential as a dynamic financial tool by connecting it to DeFi with LBTC. LBTC is a yield-bearing, natively cross-chain, liquid Bitcoin backed 1:1 by BTC, primed for use across DeFi. For the first time Bitcoin can be held as a store of value, and simultaneously used to earn, stake, trade, and transfer in DeFi at scale.

Currently in Private Beta, LBTC will soon be accessible to all and supported by all chains and DeFi protocols, allowing Bitcoin holders to do infinitely more with over $1.4 trillion Bitcoin.

“We are thrilled to see Babylon Bitcoin staking protocol play a crucial role in Lombard’s launch of LBTC. This is a major step forward for Bitcoin holders that will allow them to use their staked Bitcoin for DeFi, while still supporting the security of Proof-of-Stake systems." David Tse, Co-Founder, Babylon.

Current State of Bitcoin

Satoshi Nakamoto envisioned Bitcoin as a peer-to-peer electronic cash system where decentralized digital currency could be used as a medium of exchange.

As a peer-to-peer network, Bitcoin has made its mark on the world, inspiring countless new payment systems, blockchain networks and applications. Network transactions hover between 300,000 and 600,000 per day, and scaling solutions like the Lightning Network now accommodate a growing user base and transaction volume.

As medium of exchange, stablecoins have become the de facto asset for peer-to-peer transactions, and Bitcoin has emerged as a store of value or ‘digital gold’. Today, Bitcoin is a mainstay in investment portfolios through ETFs, and as a balance sheet and treasury asset at technology firms.

Lombard’s Vision for Bitcoin

Lombard aims to leverage Bitcoin as a store of value, and give it additional utility to be used within the dynamic world of decentralized finance. Our vision for Bitcoin includes:

• Bitcoin as a universal primitive in DeFi: BTC will be optimal DeFi collateral, and users can earn, stake, trade, and transfer Bitcoin in DeFi at scale.
• Bitcoin as a security asset: PoS networks will access bitcoin-backed security which provides higher crypto-economic security than native tokens.
• Bitcoin as a connective tissue: Protocols, ecosystems, capital, and possibilities will all be connected by Bitcoin, driving innovation and growth.

Unlocking New Utility for Bitcoin in Collaboration with Babylon

Decentralized security markets, pioneered by Babylon and EigenLayer, offer PoS systems such as chains and L2 rollups, access to staking capital from BTC and ETH, respectively.

Babylon and EigenLayer's Proof of Stake innovations create opportunities for low-risk, yield-bearing liquid tokens to be built on top. Ethereum saw a surge of net-new capital into the ecosystem with the introduction of Liquid Staked and Restaked Tokens, thanks to partnerships between EigenLayer, Lido, EtherFi and more.

LBTC: The Universal Liquid Bitcoin Standard

LBTC is liquid Bitcoin: yield-bearing, cross-chain, and 1:1 backed by BTC. LBTC opens up new opportunities for Bitcoin holders to earn, stake, and trade on-chain, all while retaining Bitcoin as a store of value. For DeFi protocols, LBTC provides increased liquidity and user activity by unlocking $1.4 trillion new capital.

• Earn native yield + rewards: LBTC earns native yield from Babylon Staking and Lombard Points, and can be used across DeFi to maximize returns.
• Move freely across chains: LBTC is natively minted across major blockchain ecosystems, enabling seamless movement.
• Connect to DeFi opportunities: LBTC is backed 1:1 with BTC, and can be used as collateral in numerous AMMs, lending protocols, perpetuals exchanges, and more.
• Stay liquid: LBTC is freedom for BTC. Take your BTC wherever you go while earning yield and retaining the asset as a store of value.

Aligning the Ecosystem

Lombard brings together leading blockchain networks and top-tier DeFi protocols to collectively onboard Bitcoin into DeFi.

Through the establishment of the Lombard Consortium, a group of ecosystem leaders operate Lombard nodes, provide strategic advice, and actively participate in governance. These members view LBTC as a key opportunity to unlock Bitcoin's full potential within DeFi, and their work ensures a strong and secure foundation for LBTC to become the universal Bitcoin primitive.

Our destination chain partners include leading blockchain networks that share our mission to drive DeFi success through LBTC as a universal primitive. Their support for Lombard and LBTC will consolidate liquidity around LBTC, minimize fragmentation, and accelerate LBTC adoption throughout the ecosystem.

From Private Beta to Public Launch: Lombard’s Three-Phase Rollout

Lombard’s three-phase rollout is designed to bring Bitcoin into DeFi in a secure and sustainable manner. [Read more]. Lombard's launch phases include a Private Beta for initial testing, a Public Beta with controlled access, and a final Public Launch with unrestricted availability.

Lombard is currently in Phase 1, and live on Ethereum mainnet in Private Beta mode, where eligible participants are staking native BTC and minting LBTC.

Phase 2 will commence in a matter of weeks and will make LBTC available to the public whilst maintaining deposit caps. We have implemented a LBTC Waitlist to manage demand for LBTC and to provide us with a mechanism to reward early participants with exclusive access and benefits overtime.

Join the LBTC Waitlist: https://lombard.finance/#LBTC_waitlist

Phase 3 will make LBTC available to the public and deposit caps will be removed. During Phase 3, LBTC holders should expect LBTC to be yield-bearing, liquid, with opportunities to put LBTC to work in DeFi on multiple chains and ecosystems, and accrue Lombard Points for early participation.

Coming next from Lombard

Today's announcement is the first step towards connecting Bitcoin and DeFi, and unlocking infinite possibilities. From the careful testing in the Private Beta to the gradual public access in the Public Beta and finally the unrestricted availability, each phase is a step towards a robust and user-friendly ecosystem.

We will soon reveal our launch partners and timings, and invite you to join us on this exciting journey and take advantage of the opportunities that LBTC brings to the DeFi space.

Join us on our journey:

• Visit the website: https://lombard.finance
• Read through the documentation: https://docs.lombard.finance/
• Join the conversation on Telegram: https://t.me/+e8F4-kY9bKVlMDcx
• Meet the community in Discord: https://discord.com/invite/2HG7G69twc
• Follow @Lombard_Finance on Twitter: https://x.com/Lombard_Finance
• Follow Lombard on LinkedIn: https://www.linkedin.com/company/lombardfinance/

About Lombard

Named after the historic Lombard Street in London — a hub of financial activity since the Middle Ages — Lombard symbolizes a place where all participants are connected to opportunity. By adopting the Lombard name, we rebuild its legacy on digital blocks, transforming it into a modern nexus of innovation and connectivity.

Founded in April 2024, Lombard is dedicated to unlocking Bitcoin's potential as a dynamic financial tool by connecting it to DeFi. We are a diverse team of DeFi natives, working with technology and infrastructure partners towards a shared, ecosystem-driven mission to collectively onboard Bitcoin to DeFi.

About Babylon

Babylon is a blockchain project that designs security sharing protocols for the decentralized economy, founded in 2022 by Stanford Professor David Tse and Dr. Fisher Yu. Professor Tse is a member of the U.S. Academy of Engineering. He is renowned as the inventor of the legendary proportional-fair scheduling algorithm for wireless communications, and is the recipient of prestigious awards such as the IEEE Claude E. Shannon Award and the IEEE Richard W. Hamming Medal. The project is led by a team of consensus protocol researchers and experienced layer 1 engineers from around the world.

Babylon's mission is to scale Bitcoin to secure the decentralized economy. To achieve this, Babylon utilizes the three primary facets of Bitcoin: its asset, its reliable timestamping service, and its most censorship-resistant blockspace in the world. To leverage these facets, Babylon is developing three innovative security-sharing protocols: Bitcoin Staking Protocol, Bitcoin Timestamping Protocol, and Bitcoin Data Availability Protocol. Through these pioneering protocols, Babylon envisions a more secure and decentralized future.